"Trump's decision to announced tariffs on a raft of European nations as a means to force through the transfer of Greenland is perhaps one of the most egregious cases of blackmail against an ally in living memory. While many made peace with the unorthodox Venezuela operation given the claims of drug trafficking and population suppression, Trump's attempts to force the transfer of a fellow Nato member's land takes things a step further."
"Interestingly, this comes ahead of the Supreme Court ruling into the legality of Trumps tariffs, expected tomorrow. While many believe he would simply reimpose them in a different format, the decision to use tariffs as a means to blackmail allies to give them land presumably doesn't shine the best light on the President's policies right now. For markets, the potential news that Trump's tariffs are not admissible would bring another fresh source of volatility ad uncertainty."
European markets opened down following weekend events that raised concerns about a potential breakdown of the NATO coalition. The US announced tariffs on several European nations allegedly to compel the transfer of Greenland, framed by critics as blackmail against an ally. Claims that the action is driven by security concerns conflict with US decisions to shrink, rather than expand, military operations on the island. The tariffs threaten to trigger a trade war, damage growth, and lift inflation pressures. A Supreme Court ruling on the tariffs is expected soon, adding potential market volatility. Defence stocks showed early strength amid rising alliance uncertainty.
Read at London Business News | Londonlovesbusiness.com
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